VIMRx To Control Innovir

VIMRx Pharmaceuticals and Innovir Laboratories, both of the USA, have reached definitive agreements to give VIMRx a controlling interest in Innovir and provide Innovir with $7 million of operating capital with a commitment for an additional $2 million.

The firms say that their combination will aid development of complementary therapeutic technologies that correct genetic flaws to pre-empt disease formation.

Each company's technology involves a different class of catalytically-active oligomers that have shown an ability to inactivate certain RNA "messenger" molecules that direct cells to produce illness-causing proteins. VIMRx focuses on RILON oligozymes and Innovir on external Guide sequence, or EGS oligozymes.